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Facebook CEO Mark Zuckerberg Accepts That The Social media Giant May Have To Pay Excessive Taxes

Zuckerberg will tell the conference that he's glad that that the OECD is looking at tax reform, which Facebook also wants

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Mark Zukerberg
The billionaire social network founder is due to meet members of the European Union's executive Commission in Brussels and speak at the Munich Security Conference in Germany. VOA

Facebook CEO Mark Zuckerberg plans to throw his support behind international reforms that would require Silicon Valley tech giants to pay more tax in Europe.

The billionaire social network founder is due to meet members of the European Union’s executive Commission in Brussels and speak at the Munich Security Conference in Germany.

Zuckerberg is expected to tell the conference  that he’s backing plans for digital tax reform on a global scale proposed by the Organisation for Economic Co-operation and Development. According to an excerpt of his speech provided in advance, Zuckerberg will say, “I understand that there’s frustration about how tech companies are taxed in Europe.”

Zuckerberg will tell the conference that he’s glad that that the OECD is looking at tax reform, which Facebook also wants. “And we accept that may mean we have to pay more tax and pay it in different places under a new framework,” Zuckerberg will reportedly say.

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Mark Zuckerberg Accepts That Facebook May Have to Pay More Taxes. VOA

The OECD plans would require digital and internet companies, including social media platforms, to pay more tax in countries where they have significant consumer-facing activities and generate profits.

The current system for taxing multinationals is based on where they are physically located, which sees internet companies such as Facebook pay the majority of their tax in the United States. The situation is even more complicated in the European Union, where multinationals largely pay taxes on business done across the region in the one country that serves as their EU base, often a low-tax haven.

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Tech companies have faced criticism for not paying enough tax in come countries. The U.S., meanwhile, has criticized the OECD plans, arguing they discriminate against big Silicon Valley companies. (VOA)

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WhatsApp Experiences Greatest Gains Amid Lockdown

WhatsApp sees 40% increase in usage in time of pandemic

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WhatsApp
WhatsApp has seen a 40 per cent increase in usage, according to a study by Kantar, a data and consulting company. Pixabay

As COVID-19 pandemic envelopes the world, WhatsApp has seen a 40 per cent increase in usage, according to a study by Kantar, a data and consulting company. This is a technology news.

Across all stages of the pandemic, WhatsApp is the social media app experiencing the greatest gains in usage as people look to stay connected. Overall WhatsApp has seen a 40 per cent increase in usage.

Kantar conducted the largest global study into consumer attitudes, media habits and expectations during the COVID-19 Pandemic. Kantar estimates that for WhatsApp in the early phase of the pandemic usage increases 27 per cent, in mid-phase 41 per cent and countries in the late phase of the pandemic see an increase of 51 per cent.

Spain experienced a 76 per cent increase in time spent on WhatsApp. Overall Facebook usage has increased 37 per cent. China experienced a 58% increase in usage of local social media apps including Wechat and Weibo.

WhatsApp
WhatsApp is the social media app experiencing the greatest gains in usage as people look to stay connected. Pixabay

According to a study, there is a crisis in trust. Traditional nationwide news channels (broadcast and newspaper) are the most trusted sources of information with 52 per cent of people identifying them as a ‘trustworthy’ source.

Government agency websites are regarded as trustworthy by only 48 per cent of people, suggesting that government measures are not providing citizens around the world with assurances and security.

Also reflecting the loss of trust from recent election cycles, social media platforms are regarded by only 11 per cent of people as a source of trustworthy information.

As countries move deeper in to the pandemic so media consumption increases across all in-home channels. According to Kantar, in the later stages of the pandemic web browsing increases by 70 per cent, followed by (traditional) TV viewing increasing by 63 per cent and social media engagement increasing by 61 per cent over normal usage rates.

Increased usage across all messaging platforms has been biggest in the 18-34 age group. WhatsApp, Facebook and Instagram have all experienced a more than 40 per cent increase in usage from under 35-year olds.

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Consumers expect the brands they choose to look after their employees first and foremost with 78 per cent saying take care of employees’ health and 62 per cent saying implement flexible working.

Supporting hospitals (41 per cent) and being helpful to government (35 per cent) is an expectation of significant minority of consumers, the study says. (IANS)